New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 19 - MORTGAGE LENDING
Part 8 - MORTGAGE LOAN COMPANY REQUIREMENTS
Section 12.19.8.9 - GOOD BUSINESS REPUTATION
Universal Citation: 12 NM Admin Code 12.19.8.9
Current through Register Vol. 35, No. 18, September 24, 2024
Pursuant to Section 58-21-8(A) NMSA 1978 of the act, a licensee or applicant may be deemed to lack a good business reputation if the director finds that the licensee or applicant has done or is doing any of the following, which includes, but is not limited to:
A. repeatedly issues worthless checks;
B. has outstanding unsatisfied judgments;
C. repeatedly fails to meet obligations when due;
D. fails to pay the examination fee or investigation fee provided by Section 58-21-5 or Section 58-21-12 NMSA 1978;
E. allows unlicensed independent contractors or mortgage loan originators to originate mortgage loans.
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